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Mar 31, 2024
Globus Medical Q1 2024 Earnings Report
Globus Medical's financial results for Q1 2024 were announced, showing significant revenue growth and progress in integrating NuVasive.
Key Takeaways
Globus Medical reported a strong first quarter in 2024, marked by a 119.3% increase in worldwide net sales to $606.7 million. The company's GAAP net loss was $7.1 million, while non-GAAP diluted EPS reached $0.72. The results reflect the successful integration of NuVasive and increased sales volume in spine and enabling technology products.
Worldwide net sales increased by 119.3% to $606.7 million.
GAAP net loss was $7.1 million, influenced by amortization and restructuring costs.
Non-GAAP diluted EPS was $0.72, compared to $0.53 in the previous year.
The company updated its full-year 2024 revenue guidance to $2.460 to $2.485 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company today updated its guidance for full year 2024 revenue in the range of $2.460 to $2.485 billion, and non-GAAP fully diluted earnings per share in the range of $2.75 to $2.85.
Positive Outlook
- Full year 2024 revenue guidance updated to $2.460 to $2.485 billion.
- Non-GAAP fully diluted earnings per share guidance updated to $2.75 to $2.85.
- Updated guidance reflects an increase over prior expectations.
- Globus Medical is making significant progress towards rapidly reaching steady state.
- Globus Medical is well positioned in delivering against its commitments for the year.
Challenges Ahead
- Risks and costs associated with the integration of the NuVasive business.
- Ability to successfully integrate and achieve anticipated synergies with the integration.
- Health epidemics, pandemics and similar outbreaks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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